Blockchain, monetary theory and banking theory

• Grant number: 18/16888-4
• Support type: Regular Research Grants
• Duration: March 01, 2019 - February 28, 2021
• Field of knowledge: Applied Social Sciences - Economics - Economic Theory
• Principal Investigator: Jefferson Donizeti Pereira Bertolai
• Grantee: Jefferson Donizeti Pereira Bertolai
• Home Institution: Faculdade de Economia, Administração e Contabilidade de Ribeirão Preto (FEARP). Universidade de São Paulo (USP). Ribeirão Preto , SP, Brazil

Abstract

It is proposed in this research project to study the consequences of the blockchain technology to the way the economic system is organized. Special focus is dedicated to the consequences for the monetary system and for the banking system. This is the next step of an ongoing research agenda and, therefore, it is based on experience and expertise on both the blockchain technology and the theory of money and banks. Two main topics are proposed:(i) cryptocurrencies and the traditional monetary system and (ii) smart contracts and the traditional banking system. The third proposed topic is very important to the project's subject, although it is more challenging for the current background of the project's leader: (iii) economic and legal aspects of desintermediation. That way, concrete results on this topic must be seen as a more ambitious and non-binding goal. (AU)